AUD/CHF breaks major trend line resistance,targets 0.7500
Major resistance – 0.7325 (trend line joining 0.75894 and 0.7364)
Major support – 0.7230 (daily Tenkan-Sen)
AUD/CHF has recovered sharply after making a low of 0.72440 at the time of writing. It is currently trading around 0.7325.
Short term trend is still bullish as long as minor support 0.7230 holds.
On the lower side, minor support is around 0.7230 (daily Tenkan-Sen) and any break below targets 0.7205/0.7160 (200 day MA).
Short term weakness only below 0.7170 (200 day MA ).
Technically the minor resistance is around 0.7325 and any break above targets 0.7380/0.7410/0.7450.
It is good to buy above 0.7325 with SL around 0.7250 for the TP of 0.7410/0.7450/0.7500.
Major support – 0.7230 (daily Tenkan-Sen)
AUD/CHF has recovered sharply after making a low of 0.72440 at the time of writing. It is currently trading around 0.7325.
Short term trend is still bullish as long as minor support 0.7230 holds.
On the lower side, minor support is around 0.7230 (daily Tenkan-Sen) and any break below targets 0.7205/0.7160 (200 day MA).
Short term weakness only below 0.7170 (200 day MA ).
Technically the minor resistance is around 0.7325 and any break above targets 0.7380/0.7410/0.7450.
It is good to buy above 0.7325 with SL around 0.7250 for the TP of 0.7410/0.7450/0.7500.